UK: Young & Co says Q1 trading 'satisfactory' at annual general meeting

Young & Co's Brewery PLC says trading in the first quarter of the current financial year has been satisfactory, in a statement released at its annual general meeting (AGM) on July 12. The company added continued operational improvements are offsetting the additional legislative and regulatory costs facing the business.

John Young, chairman, said at the UK brewers AGM: "It is of course, far too early to be making predictions about how the year as a whole will turn out. The year started well, boosted by good weather in early June, but the speed with which events can change was brought into sharp focus by the contrasting events of last week. Like all Londoners, our celebration of Lord Coe and his team's success in winning the bid to host the 2012 Olympic Games was cut short by Thursday's atrocious terrorist attacks on London. I have no doubt that Londoners will show the resilience that they have done so many times in the past. For our part, our commitment to producing great beer and providing excellent service in quality surroundings continues and we are confident that delivering our strategy will enable us to continue to make progress."